Modular, prefab, stick, panel, these are all just different methods of construction.
And there are pluses and minuses with each.
For instance, on an addition or a renovation to an existing home, usually, the only
choice that makes any sense is to stick frame.
But when it comes to a new home, stick framing the entire home is probably not
the best option. Stick framing is probably a favorite method of most small builder.
But it has a lot of limitations when it comes to quality.
Watch these videos to see why (future posts will go over pros and
cons of modular and prefab methods):
When is the Best Time to Buy a Home in Bethesda, Maryland?
With owning a home affordability getting tougher and home mortgage rates relatively high compared to the 2020, but, still near historically low, when you look at long term mortgage rate graphs, you timing could be perfect for buying a new home in Bethesda.
And in very strong home buying Bethesda market and surrounding areas (at least inside the Washington DC beltway -Arlington, Chevy Chase, Falls Church, McLean, Vienna and Northwest Washington DC – specifically), there are many options to consider.
But before you start contemplating about the home style and number of bedrooms, here’s a real quick overview of some segments of the Maryland, Virginia Washington DC housing market.
1. “Resale” homes probably represent the biggest percentage of the market. Built years, or even decades ago, these homes were designed and built to reflect the requirements and the tastes of previous owners. They may be outfitted with outdated fixtures and technologies, and have poor construction. Buyers of these homes often fall in love with them for their character, their location or their “good-enough” fit with their needs, and accept the necessity of investing additional time and resources in remodeling and rebuilding.
2. “Spec” homes are built based on the speculation that a buyer can be found during or shortly after construction. These new homes may be designed with up-to-date floor plans and features to fit current preferences. When acquired before completion, a buyer may be able to select some finishing touches. But this type of home construction may also be designed to minimize cost and get the largest proceeds for the home builder, potentially leaving homeowners with less than the best materials and designs that are not as contemporary.
3.“Custom” homes are built according to the buyer’s specifications, usually on land they already own. While this type of new home construction embodies only ten percent of the market, it gives the homeowner the most control. Working with an “on your lot” custom home builder, the buyer determines all facets of home construction—from site selection to the home’s style, size and floor plan, types of windows and doors, flooring and siding, and all the details—cabinets, lighting fixtures, drawer pulls, paint colors, etc.
While “on your lot” home builders are sometimes thought of as large home builders, they can also accommodate today’s trend towards “right-sizing”. These days a custom home builder may work on smaller homes starting around 2500 square feet. Benefits include keeping material and labor costs lower and customizable floor plans.
The Best Time to Buy a Home in Bethesda, Maryland
Buying a home is one of the most significant decisions you’ll make in your life. It’s not just about finding a place to live; it’s about investing in your future. The timing of this decision can greatly impact the value you get from your investment. This is especially true in Bethesda, Maryland, a city known for its highly desirable real estate market.
Understanding the Bethesda Real Estate Market
Downtown Bethesda
The real estate market in Bethesda is unique due to its inelastic supply of homes and land. With high demand driven by top-rated public schools, an abundance of high-paying jobs, and close proximity to Washington DC’s museums, attractions, and restaurants, Bethesda offers an exceptional living environment. This constant demand paired with limited supply means that the best time to buy is always now. Waiting for the “perfect” moment can result in higher prices due to the ongoing demand.
Interest Rates: Historically Low and Temporary
Even though today’s interest rates of around 6.7% are higher than the exceptionally low rates of 2020, they remain relatively low from a historical perspective. Over the past 30 years, interest rates (see Freddie Mac interest rate graph below) have been much higher. In the 1990s, rates often exceeded 8%, and in the early 2000s, they hovered around 6-7%. The ability to refinance also means that current rates are temporary; you can always secure a better rate in the future. On the other hand, home prices in Bethesda are unlikely to decrease over the long term due to the inelastic supply and steady demand.
30 Year Interest Rates – Current Interest Rates Are Still Historically Low
The Impact of High Demand and Limited Supply
Bethesda’s real estate market is characterized by its inelastic supply. There is only so much land and a limited number of homes available, while demand continues to grow. This imbalance drives up home prices over time. The city’s appeal—excellent schools, job opportunities, and vibrant lifestyle—ensures a steady influx of potential buyers. This means waiting could only increase the cost of your desired home.
The Impossibility of Timing the Market
It’s important to understand that timing the market is virtually impossible. This is true for any market, and the Bethesda real estate market is no exception. Real estate is a long-term investment, not akin to day trading stocks. Over the years, real estate consistently appreciates. Historical data shows that despite short-term fluctuations, the value of homes in desirable locations like Bethesda tends to rise over the long run. Trying to wait for the “perfect” time to buy can result in missed opportunities and higher costs.
Personal Circumstances
While market conditions are crucial, the best time to buy a home also heavily depends on your personal circumstances. Here are a few factors to consider:
Financial Readiness: Ensure you have a clear understanding of your budget and what you can afford, including the purchase price, property taxes, insurance, and maintenance.
Job Stability: A stable job and predictable future income make it easier to commit to a mortgage.
Current Housing Situation: If your lease is ending or you need more space due to family changes, it might be the right time to buy.
Long-Term Plans: If you plan to stay in Bethesda for several years, buying now can lock in current prices before they rise further.
Conclusion
In Bethesda, Maryland, the best time to buy a home is today. The combination of high demand, limited supply, and the area’s many attractions means prices are likely to continue rising. By understanding the unique dynamics of the Bethesda real estate market and considering your personal circumstances, you can make a well-informed decision.
For all these reasons, today is the best time to buy, and the second best time to buy is tomorrow. Remember, buying a home is a significant investment. Take your time, do your research, and make sure you’re financially prepared. With patience and careful planning, you’ll find the perfect home at the perfect time—today or tomorrow, but ideally, before prices climb even higher.
More new homes under construction for sale and lots for sale: *Chevy Chase – 4812 Chevy Chase Blvd. – downtown Bethesda – under construction *McLean – 15K SF lot – McLean HS – private list – call or text to learn more 301-370-6463 *Bethesda – 1/2 Acre – Churchill HS – private list – call or text to learn more 301-370-6463 *McLean – 17,800 SF Flat lot – McLean HS *Bethesda 6529 Elgin Lane Bethesda – 14,700 SF lot – Walt Whitman HS – new home to be built *N. Arlington 6317 Street N. – 13,000 SF – Yorktown HS – new home to be built *Bethesda 6820 Marbury Road – 11,500 SF lot – Walt Whitman HS – under construction *Bethesda – 4922 Earlston Dr. – Bethesda blocks to Westbard Square – under construction
New Home Services: *Access our wholesale acquisitions list & beat the competition – call 301-370-6463 *How much does a new home cost? Find out here
Here is a brand new custom home plan designed especially
for a shallow small lot. This is a great home plan for a two
or three person household, yet we have options to expand
this home plan to add rooms for a larger household.
This is new home plan is also ideal for shallow lots
and for home building lots that slope
front to back with a walk out basement.
New Home Plan Designed for a Bethesda Homeowner - The Cabin John
Here is a brand new custom home plan designed especially
for a shallow small lot. This is new home plan for a lot that slopes
front to back with a walk out basement.
New Home Plan Designed for a Bethesda Homeowner – The Cabin John
Hurry – another new home for sale to be built.
Walt Whitman and Pyle School district
Rare opportunity to purchase a great home and great building lot for sale
in prime Bethesda!
The new Arts & Crafts Bethesda home for sale is our Marcey Home
Plan which is modeled after our award Winning Madison New Home Plan,
but a bit smaller. Take a look at the Madison Here
Here it is:
Great New Home Plan on 8000sf + Building Lot in Whitman School area
New home for sale in Bethesda by Paramount Construction – 1st Floor Plan
2nd Floor of The Marcey Home Plan
And to learn more about the cool Marcey home plan Call Now – 301-370-6463 and we’ll “walk you thru” The Marcey plan and give you a tour of the lot.
ANOTHER NEW HOME FOR SALE IN BETHESDA !!!
Please let us know below on what you think about this
floor plan. All comments are appreciated.
Here is a custom home in the City of Falls Church. This home is designed with features such as geo-thermal heating and cooling system, energy star appliances, energy star windows.
The new home is located 2 blocks from the retail section in the City of Falls Church. This proximity to stores and shopping contributes to LEED points.
The Falls Creek New Home Plan is Under Construction in the City of Falls Church
Hurry – this new home for sale to be built is NOT listed in the MRIS…yet.
That means the Bethesda building lot price is about 6% (Realtor commissions)
lower than if the property ends up for sale in the MRIS.
Get in Early on this combination of a great home and great building lot for sale
in prime Bethesda!
The lot is in the Walt Whitman HS area and is in a neighborhood
near Whittier Blvd. The new Bethesda home for sale is our Marcey Home
Plan modeled after our award Winning Madison New Home Plan, but a bit smaller.
Here it is:
Great New Home Plan on 8000sf + Building Lot in Whitman School area
New home for sale in Bethesda by Paramount Construction – 1st Floor Plan
2nd Floor of The Marcey Home Plan
Call Now – 301-370-6463 and we’ll “walk you thru” The Marcey plan and give you a tour of the lot.
ANOTHER NEW HOME FOR SALE IN BETHESDA PRICED COMMISSION FREE – YOU SAVE!!!
Please let us know below on what you like and don’t like about
the floor plan. All comments are appreciated.
New Custom Home Plan In McLean Reflects Owners Vision
Integrating with Nature
This custom home home plan in McLean was designed to fit naturally into the 3-acre wooded building site in McLean, Virginia. Our goal was to meld the home into the natural wooded setting and to capture the phenomenal views on all sides of the property.
New Custom Home Plan with First Floor Living and Entertaining
This McLean custom home was designed so the owner could live and entertain on the first floor and have bedrooms for her grandchildren on the second floor.
We created a casual, yet elegant, open floor plan on the first floor. We designed built-ins with an open feel to divide the dining room from the family room. The built-ins around the fireplace provided focal points while creating a warm and cozy atmosphere. Rooms were organized to maximize the wooded views from every angle. The first floor is ideal for entertaining and convenient for the owner to retire to her bedroom suite off the entry foyer.
Second Floor: Family and Future
The owner also wanted a special space just for her grandkids where they could play yet provide privacy for her. So we created a second-floor “kids-family room.” This space can be converted to a fourth bedroom in the future.
Unique Touches in McLean Custom Home Plan
We designed a custom marble curved sink in the powder room to create a unique touch that sets the room off and gives it an elegant feel.
Architectural Features
Transitional Style Architecture
Expansive 360-degree views
Trey ceilings in master bedroom, foyer, and dining room
Custom architectural millwork
10-foot ceilings
Nichiha Sierra Premium Shake Panels
PVC cornice
McLean Home Plan Interior Design
WoodMode cabinets
5-inch clear Maple custom stain color with tung oil finish
Ergonomically designed vanity in the powder room
Structural Elements
2×6 panelized framing
Zip wall system
Functional Spaces
Primary suite on the first floor (check out more first floor home plans here)
Second-floor family room/Kids Lounge
Wood-Mode cabinets in this new McLean home serve as a special focal point. The homeowner was highly involved in all decisions and material selections, ensuring her sophisticated tastes and style are reflected throughout. For instance, the powder room features a custom-designed sink with a marble top, which was the clients idea. And, the home also boasts 8-foot exterior doors. Here are some of the features and materials used in this custom McLean home:
Here is a wonderful custom designed new home on 3 acres in McLean. The home design
was created to capture the tremendous views on every side of the home.
The master suite is on the first floor. The ceilings are 10 feet on the main level.
Five inch clear maple floors with custom wood floor stain are one of the many
custom features which set this home apart.
The powder room has a custom designed marble sink. The homeowner was deeply
involved in the entire design process and her refined tastes and sensibilities
are reflected in this custom home.
The structure was designed and engineered using panelized wood framing
techniques. The framing package was fabricated and the panels were assembled
in an indoor facility and then shipped out to the site and erected.
There are lots of custom WoodMode builtins which provide function and design
elements which add to the custom feel of the home.